A business owner of a specialty foods store does a full review of the inventory on hand and discovers items that have perished. What is the accounting journal entry that should be made to adjust the books? A B C D Credit to the Inventory Asset Account and a Debit to the Obsolete Inventory Expense. Debit to the Accounts Receivable Account and a Credit to the Obsolete Inventory Expense. Credit to the Inventory Asset Account and a Debit to the Cost of Goods Sold Expense. Debit to the Inventory Asset Account and a Credit to the Obsolete Inventory Expense.